Black Sea container market review 1H 2018

Black Sea container terminals of Ukraine, Romania, Russia, and Bulgaria handled 1 472 826 TEU in H1 2018, including empty containers, excluding transshipment.
This review observes only full containers of the region – 1 084 213 TEU. Total growth achieved by these five countries in H1 2018 was 9,25%, compared to the same period last year.
 
The laden turnover increase was in all countries of the Black Sea region. In H1 2018 the highest growth was achieved by Ukraine, Georgia and Bulgaria – 17,32%, 14,66% and 6,05% respectively.
 
During this period, 56,58% of full containers handled were imported, while 43,42% of the volume was exported. It is estimated that laden container share was 73,61% and empty container share was 26,39%.
 
Export volumes from the aforementioned countries increased by 3,11% compared to H1 2017. The highest export volume growth was shown by Ukraine – 16,89%. There was a growth of laden export volume in all countries of the region except Georgia (-15,25%) and Romania (-6,21%). In Bulgaria and Russia it is stated 3,25% and 1,63% respectively. Imports to the region increased by 14,48%, mainly because of Georgian, Ukrainian and Romanian import volume growth of 21,13%, 17,75% and 17,31% respectively. There was an increase of laden import volume in Bulgaria and Russia – 9,23% and 8,29%.
 
Thus the percentage of laden volume handled by each country in H1 2018 distributed as follows: Ukraine – 29,65%, Russia (Black Sea) – 27,90%, Romania – 22,56%, Georgia – 11,37% and Bulgaria – 8,52%.
 
The top-five container terminals of the region in H1 2018 had almost no changes in their positions by total volume handled: DPW (Constanta, Romania) still was on the first place, APMT Poti (Georgia) moved to the third place, while CTO (Odessa, Ukraine) shifted down to fourth. Russian terminals NUTEP (Novorossiysk) and NLE (Novorossiysk) secured their second and fifth positions respectively. All TOP-5 terminals of the Black Sea region have achieved volume growth.
 
As for the leading carriers of the region, MAERSK still was a leader, while COSCOCS overcame CMA CGM and became fourth largest carrier of the region. TOP-5 carriers of the region were: MAERSK, MSC, ARKAS, COSCOCS and CMA CGM. These carriers controlled 73,19% of this market.
 
In H1 2017 the total market share of Maersk and MSC was 45,42%, but in H1 2018 it has decreased by 2,24 p.p. to 43,18%. At the same time, COSCOCS has achieved a significant market share growth, in H1 2017 it had 7,16%, while in H1 2018 its share has increased by 1,51 p.p. and stated 9,91%, it has allowed COSCOCS became fourth largest carrier of this market. It is also worth to note that in H1 2018 against H1 2017 CMA CGM has achieved 0,12 p.p. of market share, while the share of ARKAS has decreased by 0,29 p.p., in spite of that ARKAS remained third largest carrier at the Black Sea. HMM has temporarily suspended its activity here.